Dublin 2, Ireland, 2018-May-17 — /EPR Network/ — Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of automotive knee airbags market. The study is titled as “Automotive Knee Airbags Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2022. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global automotive knee airbags market.

Increasing number of car accidents across the globe has made it vital for vehicles to earn top safety ratings during the crash test program. Hence, airbags in the vehicle form an important part of the safety features in the car. Most of the new cars are deploying airbags to protect occupants in frontal, rear and offset crashes with the help of airbags. However, knee airbag is considered to be one of the important safety features as they protect lower limbs. Governments and automotive governing councils across various nations have set safety standards and also provide vehicle safety ratings based on the in-vehicle safety systems. According to a study by Fact.MR, the global automotive knee airbags market is expected to experience steady growth. The market is projected to reach US$ 182.5 million revenue by the end of 2022.

3 Forecast Highlights on Global Automotive Knee Airbags Market

1. Europe is expected to be the largest market for automotive knee airbags during the forecast period, 2017-2022. Europe automotive knee airbags market is estimated to reach just over US$ 50 million revenue by the end of 2022.

2. North America is expected to be the second most lucrative market in automotive knee airbags. Owing to the imposition of various in-vehicle safety standards by the government and race among automotive manufacturers to earn top safety ratings is boosting the automotive knee airbags market in North America.

3. Neoprene coated automotive knee airbags are expected to account for nearly three-fourth of the revenue share by the end of 2017. Neoprene coated automotive knee airbags are projected to surpass US$ 100 million revenues towards the end of 2022. Meanwhile, silicone coated automotive knee airbags are also expected to witness robust growth during the forecast period.

Compact passenger cars are expected to be the largest users of automotive knee airbags. Compact passenger cars are estimated to reach nearly US$ 60 million revenues towards the end of 2022.

Increasing Preference for Neoprene Coated Automotive Knee Airbags

Neoprene coated automotive knee airbags are expected to experience above-average growth during the forecast period, 2017-2022. Accounting for nearly three-fourth of the revenue share by 2017 end, neoprene coated automotive knee airbags are projected to create an incremental opportunity of over US$ 20 million during 2017-2022.

Nylon Automotive Knee Airbags to Gain Maximum Revenue Share

Towards the end of 2017, Nylon automotive knee airbags are expected to gain more than three-fourth of the revenue share. Meanwhile, automotive knee airbags made using polyester are also gaining popularity as polyester has a good dimensional stability in humid conditions.

High Sales through OEM

Witnessing above-average growth, Original Equipment Manufacturers (OEM) will emerge as one of the most lucrative sales channels. By the end of 2022, OEMs are expected to bring in nearly US$ 160 million revenue. While sales through Aftermarket is also expected to experience steady growth.

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.